Daily Current Capsules -16th November 2019

International Organisations
BRICS Business Council created a roadmap to achieve $ 500 billion Intra-BRICS trade target by the next summit

Relevance IN - Prelims (about BRICS Summit) +Mains (GS II Bilateral, regional and global groupings and agreements involving India and/or affecting India's interests

What's the NEWS

• Prime Minister Shri Narendra Modi along with the Heads of states of other BRICS countries participated in the Leaders dialogue with BRICS Business Council and New Development Bank.
• The BRICS Business Council created a roadmap to achieve the $ 500 billion Intra-BRICS trade target by the next summit and identification of economic complementarities among BRICS countries would be important in this effort.

Know! more about 11th BRICS summit 2019

• The five BRICS nations account for almost 50 percent of the world's economic growth.
• The BRICS bloc comprises five major developing economies including Brazil, Russia, India, China and South Africa.
• PM Modi holds bilateral talks with leaders of Brazil, Russia and China

India -Brazil

• The Brazilian President accepted PM Modi's invitation to be the chief guest at India's Republic Day on January 26, 2020.
• The Indian Prime Minister welcomed the Brazilian President's decision to grant visa-free travel to Indian citizens.

India - China

• Xi Jinping invited PM Modi to China for the third informal summit between the two nations in 2020.
• Both leaders reviewed the ongoing preparations for the celebration of the 70th anniversary of the establishment of diplomatic relations between India and China in 2020.

India - Russia

• The two leaders noted that the USD 25 billion bilateral trade target by 2025 has already been achieved.
• Both the leaders decided to hold the 1st bilateral regional forum between Russian Provinces and the Indian States in 2020 to do away with the trade barriers at the regional level.
• Russian President Vladimir Putin highlighted the potential of the Arctic region in natural gas and invited India to invest in the region.
• The leaders also reviewed the progress made in the Infrastructure sector especially railways including raising the speed of the Nagpur-Secunderabad sector railway line.
• Prime Minister Modi accepted the Russian President's invitation to participate in Russia's Victory Day celebrations in 2020.

Know! about BRICS

• BRICS is a group of five major developing economies. Initially, the bloc included only four nations and was termed as BRIC, as South Africa became a member of the bloc only in 2010.
• BRICS nations make up almost 42 percent of the world's population, 23 percent of the global GDP and about 17 percent of the world trade. The group also accounts for almost 50 percent of world economic growth and 26.6 percent of the world area.
• All BRICS nations are members of the G20 group. The BRICS summit has been hosted alternatively every year since 2009. The 10th BRICS Summit was hosted by South Africa in January 2018.

PM proposes first meeting of BRICS Water Ministers in India

• Prime Minister Shri Narendra Modi addressed the Plenary session of XI BRICS Summit in Brazil . Heads of states of other BRICS countries, also addressed the Plenary session.
• The theme of this summit - "Economic growth for an innovative future" is very apt.
• The Prime Minister said that the Sustainable water management and sanitation are important challenges in urban areas and proposed to hold the first meeting of BRICS Water Ministers in India.

Environment Conservation
UNDP Green Climate Fund: India gets 43 million USD to boost climate in 3 coastal states

Relevance IN - Prelims (about UNDP Climate Fund) + Mains (GS III Environment conservation)
What's the NEWS

• India kicked-off a USD 43 million project to boost climate resilience in three coastal states in partnership with the United Nations Development Programme (UNDP).
• The project is funded by the Green Climate Fund, established within the framework of the United Nations Framework Convention on Climate Change (UNFCCC) to assist developing countries.

Project Objective

• The six-year project will build climate-resilient livelihoods for 1.7 million people in Andhra Pradesh, Maharashtra and Odisha, offset 3.5 million tonnes of carbon, protect vulnerable ecosystems, and benefit another 10 million people with improved shoreline protection

• India's coastal areas are quite vulnerable to climate change and in the last five years, we have seen increased floods and cyclones in these regions.
• This initiative will help enhance resilience and adaptability, lead to emissions reductions and support sustainable livelihoods
• The Indian government will finance an additional USD 86.8 million towards the new project to mainstream and accelerate the impacts of the Green Climate Fund grant.

Know! more about the project

• The project will work with communities in restoring ecosystems and promoting climate-resilient livelihood options, such as the sustainable farming of mud crabs.
• It establishes India as a leader on climate action, and marks an essential step for India to reach its goals outlined in the Paris Agreement and 2030 Agenda for Sustainable Development
• This initiative will particularly address India's strategic plan to achieve its nationally determined contributions under the Paris Agreement, which focuses on adaptation efforts in vulnerable communities, it said.
• Through the project, over 3.5 million tonnes of carbon dioxide will be sequestered through restored ecosystems over the next 30 years.
• The project activities will focus on restoration and conservation of over 15,000 hectares of mangroves, coral reefs, seagrasses and saltmarshes. Communities, including the local youth, will be trained to work with scientists in monitoring ecosystem health and coastal ecology.
• To strengthen climate risk-informed coastal management and infrastructure planning, the innovative project will create an online decision-support tool available via mobile phone for use by government officers, academic institutions, community members and scientists.

Prelims Factoids
Tobacco Board Receives 2019 Golden Leaf Award

Relevance IN - Prelims (about Golden leaf award + about tobacco board)
What's the NEWS

• Tobacco Board of India has been awarded the Golden Leaf Award in the Most Impressive Public Service Initiative category for the year 2019, for its efforts to initiate various sustainability (green) initiatives in Flue-Cured Virginia (FCV) tobacco cultivation in India.

Know! more about the award

• The awards under this category are given to a company or institution that introduced a public service programme or educational campaign of creativity, effectiveness to date and best use of resources.
• Awards are granted on an annual basis to companies that have achieved outstanding performance in five categories - most impressive public service initiative, most promising new product introduction, most exciting newcomer to the industry, most outstanding service to the industry and the BMJ most committed to quality award.
• The Golden Leaf Awards were created to recognize professional excellence and dedication in the tobacco industry by Tobacco Reporter, an international magazine in the year 2006.
• Tobacco Board got this award for its best outstanding public service in sustainability to the industry for its, initiatives on natural farming in tobacco cultivation for production of organic tobaccos
• In 2014, the Tobacco Board of India won a Golden Leaf Award in the Most Impressive Public Service Initiative category for its implementation of an electronic auction system, which has made the marketing of flue-cured tobacco in India more transparent and accountable.
• India is the world's fourth largest producer of FCV tobacco. About 88,000 FCV tobacco farmers and their families in the states of Andhra Pradesh and Karnataka are dependent on this crop for their livelihood.

Know! about tobacco Board

• Tobacco Board is a statutory body established under Ministry of Commerce and Industry.
• The main functions of the Board include regulating the production and curing of Virginia tobacco in India, implementation of extension and developmental activities for improving the yields and quality of tobacco, facilitating sale of tobacco through e-auctions on the auction floors of the Board, undertaking various grower welfare measures and export promotion of tobacco and tobacco products.

Economic Development
MELPL - Visionary Indo - French Collaboration (Largest FDI Project of Railways)

Relevance IN - Prelims (about the FDI Project of Indian Railway) + Mains (GS III Economic development - Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth. Infrastructure: Energy, Ports, Roads, Airports, Railways etc
What's the NEWS

• Indian Railways has entered into Procurement cum Maintenance Agreement with Madhepura Electric Locomotive Pvt. Ltd. (MELPL), a joint venture of Indian Railways and M/s Alstom.

Know! more about the FDI in Indian Railway

• As part of largest Foreign Direct Investment project of Indian Railways, Ministry of Railways and Alstom came together in 2015 to transform the heavy freight transportation landscape of the country.
• A landmark agreement worth 3.5 billion Euro was signed to manufacture 800 electric locomotives for freight service and its associated maintenance.
• M/s Alstom has delivered prototype locomotive in March 2018. Based on the test results, Alstom has redesigned the complete locomotive including bogies.
• This is the first time such High Horse Power locomotive is being tested on Broad Gauge network in the World by any Railways.

Benefits of Project

• Indian Railways have taken decision to have 12000 horse power twin Bo-Bo design Locomotive with 22.5 T (Tonnes) axle load upgradable to 25Tonnes with design speed of 120 kmph.
• This locomotive will be game changer for further movement of coal trains for Dedicated Freight Corridor.
• The project will allow faster and safer movement of heavier freight trains. It will haul 6000T trains at maximum speed of 100 kmph.
• With 100% electrification, the new locomotive will not only bring down operational cost for Railways, the locomotive will also reduce the congestion faced by Indian Railways. This will be used to haul heavier trains such as coal and iron ore.
  
  

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